Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
With Microsoft reporting earnings that passed estimates, it appeared this morning that the market might well head into a third strong day of trading. With that in mind, I was ready to dabble into a trade, hopefully ending up with a new position. This is rapidly becoming another way that I am growing my portfolio--through management of my existing positions and through trading stocks on the upswing that generally meet my same criteria for 'quality'.
Looking through the list of top % gainers on the NYSE today, I noted that Dolby (DLB) which had been under pressure recently, was moving sharply higher in early trading. As I write, Dolby is trading at $44.51, up $3.21 or 7.77% on the day. I purchased 800 shares of Dolby at $44.62, and later sold 400 of them at $45.5275, for a gain of $.9075 or 2.03% on the trade. This did represent a gain of $363. The other shares are now slightly 'underwater' so I shall me monitoring them closely. The market has pulled back slightly mid-morning, and I would anticipate these shares to move higher should the market move higher as well.
Dolby (DLB) is a recent "pick" for my blog, having written extensively about it on January 7, 2008.
As I stated then,
DOLBY (DLB) IS RATED A BUY
I don't have a set 'stop' for this trade, but am not interested in letting it turn into any significant loss for me. If the stock should move higher once again, I would plan on selling another 250 shares to leave 150 for my Trading Portfolio as a 'holding'.
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